Shipbuilding group to develop large scale liquid CO2 carriers

The agreement was signed at POSCO Centre in Seoul by Hyundai Mipo Dockyard, Lloyd Register, Korean Shipbuilding & Offshore Engineeing, the Liberian Registry and POSCO.

Through this MoU, POSCO will develop new steel materials and relevant technology for storage tanks, which are core technologies for large size LCO2 carriers. HMD & KSOE will develop the ship design and necessary welding and processing technologies for the ship construction. In addition, LR will reviews and revise the relevant classification rules for certification of the the new steel materials and approval for the basic design of the ship. The Liberian flag state is in charge of all flag state approval procedures such as establishment of ship registration regulations and acceptance of ports entry.

There are still no international standards, guidelines and certifications for the large size of liquefied carbon dioxide carriers for transporting carbon dioxide to storage facilities, from materials to ship construction. The ship type is expected to become increasingly important and global industries look to decarbonise, and carbon capture, storage and transportation becomes more common.

Through this agreement, the participating companies will develop the large size of CO2 carriers over 20,000 cu m step by step by 2025, while simultaneously developing international standards such as steel materials development, establishing and revising necessary rules and regulations for ship construction and operation.

The group hopes to create future demand through pre-emptive joint development of the large size of CO2 carriers and filing patent applications for necessary steel materials and new technologies.

POSCO is chargd with development of new steel materials that can withstand the low temperature and high pressure required by the large size of CO2 storage tanks, as well as welding materials and application technologies. With HMD and KSOE in charge of designing and manufacturing the carriers, 100% localised technology in Korea will be applied from steel material development and shipbuilding.

Mr. Alfonso Castillero, Chief Operating Officer of Liberian International Ship & Corporate Registry said, “This is a very important project for the entire maritime industry, as this type of vessel will be an important part toward the successful implementation of upcoming maritime environmental and emissions regulations. The industry needs to be forward looking and focused on leveraging technology to ensure that our industry continues to be as modern, safe, and efficient as possible. This project is a major step in this direction. We are proud to be the flag State administration included with these wonderful and professional partners,” said Alfonso Castillero, Chief Operating Officer of Liberian International Ship & Corporate Registry.